18 Things You Can Buy When You Win the Lottery
There are 302 million possible combinations of numbers to get you lucky to win the Mega Millions jackpot. Although the chances of hitting the jackpot are low and your chances of winning are slim, someone will get lucky to walk away with the grand prize. If you feel you are the person, welcome to the one percent hypothetical lottery winner.
There are so many things you could buy when you win a jackpot. Things you’ve always dreamed of, your dream car, your dream house, you could make an investment, you could buy gifts for your loved ones or donate to the less fortunate. There’s always something you could do with millions of dollars.
Since you’d be pretty set for life, there’s a lifetime of adventure, fun, amusement, pleasure, and experiences that only a few can be lucky enough to experience. Here are a few ideas of the things you can buy when you win the lottery.
Things to Buy When You Win the Lottery
The Mega Millions jackpot keeps on getting higher and has reached up to over $1 Billion. That’s an insanely large amount of money! So let’s say you win, what could you get for such a lump sum?
Even though you might choose not to take home the full amount, you can get stumped on how to spend your money. Whether you choose you to get the money in a lump sum or annuity annual allotment over 30 years, the cash lets you pursue your dreams and live life to the fullest.
It’s fun to daydream! Think of the many things you can buy, the places you could visit, and the millions you could give away. There’s nothing wrong with self-indulgence; besides, you’ve been through many ups and downs, trials and tribulations, and only one life to live.
So, here are some latest trends and items from the super-rich that you can consider for your shopping list that would be well within your new budget.
Buy a New House
A new house is almost always on the shopping list of new lottery winners. As a multi-millionaire, you can decide to go all-out for your dream home.
High net worth individuals buy homes above $30 million. Some do it as a means of diversifying their assets or as a means of putting their wealth in on display.
You can also drop your cash on some of these properties in Los Angeles, New York, Monaco, and London. Manhattan tops in the list of cities that the uber-rich crowd lives. A condo at 432 Park Ave will set you back $95 million, and you get to enjoy a world-class spa and panoramic skyline views that personalizes concierge.
One of the fanciest condos in Midtown comes with some outrageous perks such as $1 million yacht worth of docking fees, two Roll Royce Phantoms, and courtside season tickets to the Brooklyn Mets.
If you want a pie of these assets in some of the hottest playgrounds for the world’s wealthiest citizens, be ready to part with $20 to $250 million. Besides, it will barely make a dent in the winnings. Or if you want to go big, you can get a massive monstrosity like the Trump Tower.
Buy a Private Jet
As a multi-millionaire, money is no longer a stumbling block to give you personal freedom and convenience. An authentic megabucks experience will enable you to skip the lines, fly in your schedule, and enjoy all the amenities you fancy.
A customized private jet is a symbol of freedom and power. The ultra-wealthy folks in the world enjoy the convenience, comfort, and privacy that come with owning a private jet.
From Saudi princes to American presidents, the respective owners customize aircraft and lavishly equip them with extravagant features. They range from board rooms, computerized missile defense, lounge, sleeping areas, dining areas, interiors replete with gold and crystals, huge big-screen TVs, e.t.c.
When it comes to private jets, some are a cut above the rest. The most affordable would cost you approximately $20 million. In comparison, a state of the art ultra-long-range executive jet can cost you a hefty $500 million – which a Mega Millionaire can undoubtedly afford.
But you may want to venture into a fractional ownership of a jet and save the hassle of having to buy one all on your own. It would give you 25 hours of flight time for a mere $119,000 a year, which is a fraction of your yearly payout.
Own a Private Island
It’s time to go away. Far away. Many people dream of owning an island – but that dream can become a reality for a Mega Millions winner. Private islands are an accessible luxury asset for the wealthy. They range from under $50,000 to $160 million.
Virgin Galactic owner Richard Brandson purchased a 74-acre Necker Island in the Caribbean for just $180,000. For a small fraction of your winnings, you can own one of the islands in Allan Island in Washington at the cost of $13.5 million. However, the upkeep can be daunting, and it would be best if you first rent before buying.
You can also fancy yourself with the idea of owning a rugged western-type of property. With millions in the bank, you can part with $29.5 million and become an owner of Mill Creek ranch. Don’t forget that you’ll also have to budget for $48,000 plus a year in taxes.
Make Smart Investments
When you win the lottery, the most common advice you’ll hear is, “don’t spend it all in one place.” While this statement is valid, you might want to leverage your money and venture into smart investments. There is a saying that goes; you need money to make more money.
Property is an obvious choice, but CNBC observes that your monies are enough to buy a National Hockey League or a medium-sized company. With the jackpot, you can make your own Blockbuster, hire your favorite stars to act in it, and turn in a fat profit in a few weeks. There’s no business like show business!Lottoland winner Mario set aside some of his winnings and set up an ecotourism resort back home in Italy. With no more need to have a regular job and with millions in your account, you can buy more than 300,000 Amazon shares worth approximately $680 million and make more money.
Making the right investments can get you additional funds in the future. With the help of a financial advisor, you can find short-term or long-term investments in the stock market.
Rich people do reinvest time and time. However, they also know something that most people don’t – building wealth is just as much as becoming the best version of yourself. They stay in a constant learning mode and read books of people written by those who inspire them.
Reading is smart and inexpensive. As a Mega Millionaire, take some of your free time reading excellent books that will increase your knowledge and help you stay mentally sharp—the affluent talk about two things; what is happening tomorrow and how to make money. Resources as a scorecard are huge for the wealthy – therefore, increase your knowledge and learn more.
Personal coaching is another non-financial investment that the rich invest in to help them reach their potential. Although some coaching programs cost thousands of dollars, they are well worth it and triple your revenues. That said, the uber-rich crowd will always be happy to tell you how they like to hang around forks whose brains are worth picking.
Mentorship is huge. Considering that you are now a multi-millionaire, you need to remain in that status for life. Seek out people who can mentor you to where you want to be.
Set Up a Charitable Foundation
According to Wealth-X’s billionaire sensors, philanthropy is a popular hobby among the uber-rich. If you’re sitting on several million dollars and want to save on the 40 percent gift and estate taxes, consider giving some of it away.
Although most lottery winners opt for a lump sum payout, they don’t get to have the full amount as 24 percent goes to federal tax withholding. Besides the sizable amount that goes to the taxman, you’d remain with a heap in the account.
However, to avoid ending up paying state and local taxes, which could amount to 45 percent of your winnings, you could reduce the charges by setting up a charitable foundation.
If you set up a charitable foundation, you can donate a portion of your windfall and significantly reduce the federal and state taxes. Experts advise that jackpot winners should assemble experienced professionals like a financial advisor, an attorney, and a tax advisor to navigate their sudden wealth.
Charities attract wealthy donors. Sixty-nine percent of billionaires will accent to a request if it comes from a credible fundraiser. So if you’re asking for more money for a worthy cause, you must understand their interest and business objectives.
A Luxury Holiday
When you win the lottery, what’s the first thing that can come in your mind? Of course – a holiday! You need one, and you deserve it! The holiday we’re talking about is not in some snooty resort but one that can afford you the travel highlights for luxury travelers. Budget holidays are easy to come by, but as a new millionaire, you need a top destination.
There are many luxurious vacation spots beloved by the rich and famous from Telluride to the beaches of Bali. You can find a vacation in some of the world’s beautiful locales like Hawaii, Fiji Islands, Seychelles, Paris, Mauritius, New York, Rwanda, among other destinations.
The luxury accommodations feature all the top amenities. Some of them include bathing on hot springs, skiing, private vineyard tours, education excursions like making champagne lessons, golf courses, and the list is endless.
220-Foot Luxury Yacht
Now that you are fabulously wealthy, you can be on the list of few superyacht owners. Only eight in the ten billionaires list own a luxury vessel, which costs at least $10 to $20 million. Khalifa bin Zayed Al Nahyan Azzam owns the world’s largest luxury vessel at 590-ft which cost $600 million to build.
The price and length aren’t the only things to brag about in such an impressive vessel. But the yacht comes loaded with few other features such as bomb-proof windows, a helicopter pad, a swimming pool, biometric fingerprint entry, motions sensors, escape pods, and the list goes on.
You may want to rent out the yacht before buying to test the waters. The cost of renting a luxury vessel is about $300,000 a week, complete with crew and all the toys you can imagine.
Own 118 Bugatti HypercarsOwning a new car is a classic lottery first purchase. Get something sleek, something that will turn heads like a Bugatti, Porsche, and the likes.
Bugatti’s latest Divo hypercar would be an excellent choice. It’s a finely crafted automotive that comes at a price. The growling of the engine, the lurch forward, electrifying speeds, and swooping around corners gives an unparalleled experience that sends adrenaline right inside your veins!Bugatti’s brand Divo hypercar, which features a handcrafted body, can only be described as works of art rather than a standard car. It also includes a fast and formidable traditional engineering limit, which makes it a plaything for the super-rich. These wheels are so unique that you can accelerate the car from zero to 62 mph in 2.4 seconds.
It comes at a massive price tag of $5.8 million. The company sold 40 cars of the limited series, but a Mega Millions winner can afford an entire collection at $232 million and still have enough left for a lifetime.
Throw a Lavish Party
Something happens when the rich get super-rich and wealthy; the planes become private, apartments become penthouses, and the parties get more epic.
So, you just won the lottery and wouldn’t mind celebrating with a few friends and family.
Like the super-rich, you want to take your party to the next level. When it comes to luxury party planning like the super-rich, the options are endless. However, if you want the party intimate, it’s best to make it private, invite 40 of your closest friends and keep unexpected guests out of your hair.
You can also invite a favorite movie star, including performances from some of the world’s biggest stars, serve copious amounts of food, beer, and anything else that your guests might want. Towards the end of the night, you can have a fireworks show – do it like the rich and famous.
Take More Than 3,000 Friends to Space
A wealthy Mega Millions winner can take more than 3,000 of his friends for a trip to space. There are several options in space tourism; you can opt to buy Richard Branson’s Virgin Galactic $250,000 ticket for each of your friends or from Jeff Bezos Blue Origin’s $300,000 ticket. In both cases, you’d spend less than $9 million, which is financially feasible for a Mega Millions winner.
Alternatively, if you want to visit space for 30 days as a “private astronaut,” you can purchase a ticket from Elon Musk’s SpaceX for a tour to NASA’s ISS at the cost of $52 million. There are other more expensive options with space adventure and a lot to explore in space. For instance, SpaceX recently announced Japanese billionaire Yusaku Maezawa will be their first customer for a private space flight around the moon at a cost that is yet to be revealed.Dennis Tito was among the first wealthy civilians to leave our planet and visit space as a tourist. He joined the Russian crew at the age of 61 for an astronomical adventure for $20 million. Richard Garriott of Space Adventures went to space as a tourist at the cost of $30 million. All these works in progress mean that space tourism will grow in leaps and bounds in the future.
Buy 625 Bottles of Million-Dollar Whiskey
A rare 60-year-old Macallan scotch set the record for the most expensive whiskey in the world when it fetched $1.1 million at an auction in Edinburgh, Scotland.
Experts describe the whiskey “Holy Grail” for its quality, artwork, and vintage. It was in a vat for 60 years before being bottled in 1986.
You would want to sip and savor such a bottle in which collectors will have to wait patiently for many years before a similar one can be released. A millionaire can afford 625 bottles of such whiskeys – if they ever existed and still have more than $200 million left.
Food makes us happy. You don’t need a silver fork to enjoy a good meal. From gourmet fruit vegetables to labor-intensive spices and indulgent white truffles sniffed out by trained pigs, you can order some of the world’s most expensive ingredients.The Da Hong Pao tea grows only in the rocky soils of China’s Wuyi mountains. It’s a rare type of tea with robust sweetness and lingering woody notes.
The tea can reach eye-watering prices at $21,700 for just 0.7 oz; this means that a 2.2lbs would cost you $1.1 million.Edible gold from a pure 24-carat gold, which is available in the form of dust, flakes, and leaves, would make a list of an expensive culinary indulgence.
For pure gastronomic indulgence, you can start your food journey with Beluga Caviar to Lindeth Howe pudding, which would cost you more than $21 million per dessert.
Alternatively, you can go to the most expensive restaurant in Las Vegas for gourmet cuisine and view the dazzling sunset strip.
Stay More Than 9000 Nights in the Most Expensive Hotel Suite in America
The most expensive hotel suite in America comes with an astonishing price tag of $75,000 a night. Mark Hotel’s luxurious 10,000 square foot penthouse is worth every cent. It features a living room with soaring vaulted ceilings, bold black-and-white striped marble floors, freshly cut giant arrangement of hydrangeas, orate and rare chocolate truffles to personalized Loro Piana slippers and the list is endless.
The hotel suite duplex penthouse comprises five bedrooms, six baths, a dining room, a living room, a kitchen, two powder rooms, and a ballroom. It also includes other perks like the 70-foot-long sailing yacht, which can charter two people for $5000 each.
For a millionaire, you could spend more than 9000 nights at this prestigious hotel, which is roughly 25 years.
Buy Prized Pets
If Bonds film is any indication, ultra-high-net-worth individuals love their pets, and the Savannah cat is no exception. The cat is a hypoallergenic feline that will cost you $15,000 to $30,000. This cat is a rare hybrid between a domestic cat and an African Serval with distinctive large ears and a spotted coat.
The affluent love their dogs as much as they love their fancy driving. For $1.9 million, you can buy man’s best friend – a cuddly purebred Tibetan Mastiff.
The pooch is the newest glamour pet for a Chinese business tycoon and the most expensive dog. This intelligent breed traces its roots from the Himalaya region. Tibetan Mastiff can weigh as much as 286 pounds; hence would require a spacious yard and plenty of exercises.
To add to the list is the most expensive Labrador is Sir Lancelot Encore – the world’s first successfully cloned dog who costs an astronomical price of $16 million.
There are many exotic species like the Green Monkey thoroughbred racehorse who also tops the list of the most valuable pets in the world who auctioned for $16 million in 2009. For a Mega Millions winner, the pets are but pocket change.
Buy a Submarine
The depths of the oceans remain extensively unexplored. One thing about owning a submarine is that it can take you to places no one has ever been before.
Whether your goal of owning one would be for the exploration of the expanse underwaters or an additional list of your toys, one thing is for sure – private submarines are unique playthings for the ultra-high-net-worth individuals.
To name a few of these agile vessels – topping the list is the Phoenix 1000 at the cost of $78 million. The submarine boasts a spacious 5000 square feet interior space with luxurious lounges, large acrylic viewports. It operates at a depth of 1000 feet to give you an excellent underwater exploration. It also features an additional mini-submarine that can go down 2000 feet.
There is also the Seattle 1000, which costs $25 million, a fair price tag for a megabucks millionaire. The three-story-tall luxurious vessel boasts a wine cellar, five staterooms, two kitchens, a gym, and a generously long and wide observation portal. It can also take you for a tour from one end of the Atlantic to the other submerged for 20 days.
A Rich Girl’s Best Friend
Diamonds (also known as the rich girl’s best friend) are becoming popular with high-net-worth individuals. According to a report by Wealth-X, some of the rarest and most expensive diamond owners consist of dealers, business owners, collectors. In contrast, others spend millions on exclusive jewelry just because they can.
The world’s most expensive diamond comes at a hefty price tag of $400 million, which would cause a small dent in a megabucks millionaire’s wallet—cloaking in at 530 carats, the pear-shaped Cullinan. Diamond is the largest rough-cut diamond in the world.
A member of the Qatari Royal family who wishes to remain unknown purchased a 31-carat Wittelsbach-Graff diamond for $80 million. The diamond is extremely rare, with fancy deep blue hues and internally flawless.Hong Kong billionaire Joseph Lau bought his seven-year-old daughter a large cushion-shaped, vivid-blue diamond worth $28.5 million. As if that was not enough, he purchased two rare diamonds for his 13-year-old daughter, Zoe, worth more than $40 million in total.
As a new megabucks winner, how much more would you show love to your little ones as Lau’s gifts are just a fraction of your winnings? Besides, this is a price tag you can accommodate in your winnings.
A Custom Fragrance
Time to avoid embarrassment showing up at the ball wearing the same perfume as everyone else. It seems every celebrity wants to wear a customized fragrance from Kim Kardashian’s “Pure Honey” to Taylor Swift’s “Incredible Things.”
A signature scent can cost you thousands of dollars. You don’t have to be famous to own one – you just need to be super-rich.
If you want a high-end luxurious fragrance that features a combination of rare ingredients, dazzling details – the works of pure craftsmanship, then be ready to part with $30,000 to $50,000, which is pocket change for a Mega Millions winner.
According to Kilian Hennessy, one of the few perfumers who makes personalized fragrances for princesses and ultra-high net worth individuals across the world, it takes several months or even a year to perfect the right scent. The perfume is preserved in eight bottles and packaged on a bed of satin lacquered boxes with a key.
Money is money, but it cannot afford true happiness or a smile. However, it gives you the power to make your wildest dreams come true. A Mega Millions winner can afford to have a lot more fun, invest in assets, participate in charities, and join the super-rich club.